Kinross pours first gold bar at La Coipa
March 09 2022 - 8:30AM
Kinross Gold Corporation (TSX:K; NYSE:KGC) (“Kinross” or the
“Company”) is pleased to announce that its La Coipa project in
Chile achieved a significant milestone and poured its first gold
bar.
The project commenced commissioning at its plant
in early February 2022, on schedule and under budget, with the
plant expecting to ramp up over the next few months to reach full
operating capacity mid-year.
“Thanks to the hard work and contributions of
our team in Chile, we were able to reach this important milestone
and pour our first gold bar at La Coipa,” said J. Paul Rollinson,
President and CEO. “Our team has safely delivered the project on
schedule and under budget despite the challenging operating
environment caused by the global pandemic over the past two years.
With La Coipa expected to reach full operating capacity by
mid-year, we are on the cusp of further exciting milestones at the
project.”
At year-end 2021, Kinross increased La Coipa’s
expected life of mine production by 45% to approximately 1 million
Au eq. oz. by incorporating the nearby Puren pit into the project
and optimizing the Phase 7 mine plan. The project’s life of mine
estimate was also extended from 2024 to 2026. Pre-stripping at
Puren is expected to begin in April 2022.
The Company continues to study opportunities to
further expand La Coipa’s mine plan, such as a possible
additional Puren pushback and incorporating other adjacent pits
into the project.
Kinross also signed a power purchase agreement
late last year to supply La Coipa with 100% renewable power to meet
its power needs, in line with the Company’s greenhouse gas
emissions reduction strategy.
About Kinross Gold Corporation
Kinross is a Canadian-based senior gold mining
company with mines and projects in the United States, Brazil,
Russia, Mauritania, Chile, Ghana and Canada. Our focus is on
delivering value based on the core principles of operational
excellence, balance sheet strength, disciplined growth and
responsible mining. Kinross maintains listings on the Toronto Stock
Exchange (symbol:K) and the New York Stock Exchange
(symbol:KGC).
Media Contact Louie DiazVice-President,
Corporate Communicationsphone:
416-369-6469louie.diaz@kinross.com
Investor Relations ContactChris Lichtenheldt
Vice-President,
Investor
Relations phone:
416-365-2761 chris.lichtenheldt@kinross.com
All statements, other than statements of historical fact,
contained or incorporated by reference in or made in this news
release, including but not limited to any information as to the
future performance of Kinross, constitute “forward looking
statements” within the meaning of applicable securities laws,
including the provisions of the Securities Act (Ontario) and the
provisions for “safe harbor” under the United States Private
Securities Litigation Reform Act of 1995 and are based on
expectations, estimates and projections as of the date of this news
release. The words “estimate”, “expect” or “opportunity” or
variations of or similar such words and phrases or statements that
certain actions, events or results may, can, could, would, should,
might, indicates, or will be taken, and similar expressions
identify forward looking statements. Forward-looking statements
contained in this news release include, without limitation,
statements with respect to: the ramp up of the La Coipa plant and
the anticipated timing for reaching full operating capacity;
expected life of mine production; the anticipated life of mine of
La Coipa; the timing of pre-stripping at Puren; and the potential
for possible expansions of the operation. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by Kinross as of the
date of such statements, are inherently subject to significant
business, economic, legislative and competitive risks and
uncertainties and contingencies. Many of these risks and
uncertainties and contingencies can affect, and could cause,
Kinross’ actual results to differ materially from those expressed
or implied in any forward looking statements made by, or on behalf
of, Kinross. Such risks and uncertainties include, but are not
limited to: operational or technical difficulties in connection
with development, mining or processing activities; potential direct
or indirect operational impacts resulting from infectious diseases
or pandemics such as the ongoing COVID-19 pandemic; the volatility
of prices of gold and silver; uncertainty of mineral reserve and
mineral resource estimates; the speculative nature of gold
exploration and development including, but not limited to, the
risks of obtaining necessary licenses and permits; foreign exchange
rate fluctuations; and risks associated with operating in foreign
jurisdictions, including government relations risks. There can be
no assurance that forward looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. All of the
forward looking statements made in this news release are qualified
by these cautionary statements, and those made in our filings with
the securities regulators of Canada and the U.S., including but not
limited to those cautionary statements made in the “Risk Factors”
section of our most recently filed Annual Information Form, the
“Risk Analysis” section of our FYE 2021 Management’s Discussion and
Analysis, and the “Cautionary Statement on Forward-Looking
Information” in our news release dated February 16, 2022, to which
readers are referred and which are incorporated by reference in
this news release, all of which qualify any and all forward‐looking
statements made in this news release. These factors are not
intended to represent a complete list of the factors that could
affect Kinross. Kinross disclaims any intention or obligation to
update or revise any forward‐looking statements or to explain any
material difference between subsequent actual events and such
forward‐looking statements, except to the extent required by
applicable law.
Other information
Where we say "we", "us", "our", the "Company", or "Kinross" in
this news release, we mean Kinross Gold Corporation and/or one or
more or all of its subsidiaries, as may be applicable.
The technical information about the Company’s mineral properties
contained in this news release has been prepared under the
supervision of Mr. John Sims, who is a “qualified person” within
the meaning of National Instrument 43-101. Mr. Sims was an officer
of Kinross until December 31, 2020. Mr. Sims remains the Company’s
qualified person as an external consultant.
Source: Kinross Gold Corporation
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